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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

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Financial planning for WA diabetic

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email asktony@tonynovak.com.

Q: I'm trying to help my 27 year old son, insulin dependent, self employed, who lives in Washington state--we need some "medicaid/ insurance planning" consultation--he may be very eligible. Are you the one?? Or could you recommend someone or someplace else for a Washington resident? Please contact me and help me choose a course of action.

A: Fortunately, Washington state is one of the easier locations to find guaranteed-issue individual health insurance for people like your son. Of course, that does not mean that the coverage is affordable for working people or that this state-mandated plan offers the best available medical benefits. Professional financial planning help is useful when there are other assets (a home or financial accounts) that might be protected from a Medicaid claim. Although an adviser may not specifically tailor advice to avoid Medicaid claims, this is usually the side-benefit of good financial planning. In your son's case it is straightforward: if there are financial assets then hire OnlineAdviser immediately for a preliminary planning session; if not, then do not bother and just apply directly to the local welfare office for medical benefits.

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